GCC EQUITY MARKETS AS OF MAY 30 2010: MIDDLE EAST

May 30, 2010 at 10:29 pm | Posted in Arabs, Economics, Financial, Middle East, Research | Leave a comment

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GCC Equity Markets Daily Briefing as of 30.05.2010

KAMCO Research (research@kamconline.com)

Sun 5/30/10

Dear Investors,

GCC Equity Markets Daily Report

At KAMCO Research, we strive to keep you updated with insightful research reports to support you in making an informed investment decision. Please find below links to each of the five markets comprising our GCC Equity Markets Daily Report.

Please note that the P/E & P/B multiples for the GCC equity markets have been adjusted to reflect net profit for the trailing 12 month period ending Q1-10 as well as for shareholders’ equity as of 31-March-10. Dividend yield is based on FY-2009 cash dividends that have been announced so far this year.

Saudi Stock Exchange

Abu Dhabi Securities Exchange

Dubai Financial Market

Qatar Exchange

Bahrain Stock Exchange

Muscat Securities Market

Please note that the P/E & P/B multiples for the GCC equity markets are based on the net profit for the trailing 12 month period ending Q1-10 as well as for shareholders’ equity as of 31-March-10. Dividend yield is based on FY-2009 cash dividends that have been announced so far this year.

Valuation multiples for companies that have not yet disclosed their financials for Q1-10 are based on net profit for FY-09 and shareholders’ equity as of 31 December 2009.

Kind Regards,

Investment Research Department

Investment Advisory & Research Division

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

GCC Equity Markets Daily Briefing as of 30.05.2010

KAMCO Research (research@kamconline.com)

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

Sun 5/30/10

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AMMAN STOCK EXCHANGE: MARKET NEWS MAY 30 2010

May 30, 2010 at 7:56 pm | Posted in Arabs, Economics, Financial, History, Middle East, Research | Leave a comment

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ASE Market News Briefcase Round 1

Capital Investments (Research@CapitalInv.jo)

For further information, please contact us at:
Research & Studies Department

Capital Investments

Tel (962 6) 520 -0330 ext. 285

Fax (962 6) 569-2872

Sun 5/30/10

ASE Market News Briefcase

Round 1

30 May 2010

Corporate News

· Global Finance, the international financial publication, has awarded the Arab Bank (ARBK) with Best Investment Bank in Jordan for the year 2010.

Economic News

· King Abdullah II of Jordan and UAE Deputy Prime Minister General Shaikh Saif Bin Zayed Al Nahyan on Thursday launched the first phase of the $10 billion Marsa Zayed project, a realty venture developed by Al Maabar Investments. Al Maabar will develop a mega mixed-use waterfront project, including high-rise residential towers, retail, recreational, entertainment, business and financial districts and several branded hotels. This 3.2-square kilometre development, including two km of waterfront, is the biggest mixed-use project of its kind in Jordan and will be implemented in several phases over 30 years with construction of the first phase scheduled to start in the third quarter of this year.

· Remittances of Jordanian expatriates grew by 2.4% during the first four months of 2010 to reach JD798.0 million. Moreover, remittances amounted to JD209.0 million in April 2010 compared to JD196.0 million in the same month last year, a growth of 6.7%.

· The European Union and the government of Jordan will sign on Monday a memorandum of understanding regarding a three-year aid package to Jordan with a total value of 223.0 million Euros in addition to 13.0 million Euros financing deals as part of the 2009-2010 aid program to the Kingdom.

For further information, please contact us at:
Research & Studies Department
Capital Investments

Tel (962 6) 520 -0330 ext. 285

Fax (962 6) 569-2872

ASE Market News Briefcase- Round 1

30 May 2010

Capital Investments (Research@CapitalInv.jo)

For further information, please contact us at:
Research & Studies Department

Capital Investments

Tel (962 6) 520 -0330 ext. 285

Fax (962 6) 569-2872

Sun 5/30/10

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MIDDLE EAST REAL ESTATE: QUARTERLY RESULT UPDATE

May 30, 2010 at 5:18 pm | Posted in Arabs, Development, Economics, Financial, Middle East, Research | Leave a comment

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Dar Al-Arkan Real Estate Development Company –

Quarterly Result Update

TAIB Research (Research@taib.com)

Sun 5/30/10

In order to view our Equity Research Report on Dar Al-Arkan Real Estate Development Company (4300.SE),

please click on the hyperlink below:

http://www.taib.com/reports/E01025053010/GCCUPDATE4300SEMAY10.pdf

For any further information or clarification, please contact us at:

Tel: + 973 17549499

Fax: + 973 17531213

Email: research@taib.com

Best Regards

Research Team

TAIB Securities W.L.L

Post Box 20485 Manama

Kingdom of Bahrain

Dar Al-Arkan Real Estate Development Company –

Quarterly Result Update

Equity Research Report on Dar Al-Arkan Real Estate

Development Company (4300.SE)

TAIB Research (Research@taib.com)

TAIB Securities W.L.L

Post Box 20485 Manama

Kingdom of Bahrain

Sun 5/30/10

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UAE: GDP GROWTH IN 2010

May 30, 2010 at 2:19 pm | Posted in Arabs, Development, Economics, Financial, Middle East, Oil & Gas, Research | Leave a comment

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UAE set to achieve 3.2% growth in GDP in 2010

AMEinfo.com – Weekly News

AMEinfo.com FZ LLC
Dubai Media City, Al Thuraya Tower 1, 20th Floor
United Arab Emirates
Phone: +971(4)3902700
FAX: +971(4)3908015

Sun 5/30/10

His Excellency Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, unveiled the ‘UAE Economic Report 2009’ which highlighted a growth in GDP of 1.3% last year, with the non-oil sector contributing to 71.6% of the GDP, underscoring the success of the nation’s economic diversification initiatives.

Basics:

• 2009 GDP growth rate of 1.3%
• Non-oil sector contributes to 71.6% of GDP
• Highlights success of UAE‘s economic diversification, says Al Mansoori

The economy is set to achieve a growth in GDP of 3.2% in 2010 led by a focus on adopting industrial policies that will drive sustainable development across the UAE. The real GDP growth for year 2010 is projected at 2.5%.

The GDP at current prices for 2009 is Dhs914bn and the GDP at constant prices was Dhs514.5bn. The rate of inflation was 1.56%, compared to 12.3% in 2007-08, and has declined by 0.01% at the end of the first quarter of 2010, compared to the same period in 2009.

The rate of inflation is projected to be managed at 1.1% by end-2010 and at 2 to 2.5% by end-2011 as global economic recovery gains momentum.

Mr Al Mansoori said the Economic Report is a key reference for decision makers in the UAE and the world. “The report provides a clear outlook and perspective of the UAE economy and how the nation has successfully addressed the challenges of the global financial crisis. Our emphasis on economic diversification and openness has contributed to an increase in the share of the non-oil sector to 71% of the GDP compared to 66.5% in 2008.”

He added: “The Report further highlights the contribution of the various non-oil sectors with manufacturing, construction, retail, real estate, financial services and tourism, among others, being significant contributors. The global economic recovery will further strengthen the performance of the non-oil sectors, and our expected growth rate will be higher than that of other high-income industrialised nations.”

Mr Al Mansoori said the UAE leadership is committed to strengthening the economic performance and enhance the integration of all key components in line with the UAE Vision 2021 – to make the UAE among the best countries in the world by 2021 – and its key components, namely, an ambitious and confident people who adhere to their heritage; a strong Union with common destiny; a competitive economy that is led by innovative and knowledgeable UAE nationals; and high quality life endowed with sustainable environment.

The contributions of the various non-oil sectors to GDP are listed below:
16.2 % Manufacturing
10.7 % Construction
9.0 % Wholesale and retail trade, and repairing services
8.2 % Real estate
8.0 % Government services
7.1 % Transportation, storage, and communication
5.8 % Financial services
1.8 % Hotels and restaurants
1.7 % Agriculture, livestock, and fishing
1.6 % Electricity, gas, and water
0.5 % Household services

Total exports and re-exports for the year 2009 was valued at Dhs769.2bn ($209.6bn); and export and re-export of oil products accounting for Dhs256.5bn ($69.9bn). The total imports were valued at Dhs710.1bn ($193.5bn).

Non-oil exports were primarily to India, Switzerland, Qatar, the Kingdom of Saudi Arabia, Iran, Oman, Pakistan, Nigeria, Kuwait, and Iraq, representing about 73.4% of the total. Re-exports were primarily to Iran, India, Iraq, the Kingdom of Saudi Arabia, Qatar, Switzerland, Bahrain, Afghanistan, Hong-Kong, and Oman, representing about 64.5% of the total.

The Central Bank continued to strengthen confidence in the domestic financial market. The Central Bank established an Dhs70bn ($19bn) liquidity facility. Bank deposits reached Dhs950bn ($259bn) at the end of Q1 2009 compared to Dhs840bn ($229bn) at the end of June 2009.

The UAE will continue to pursue a free and open trade regime having signed Free Trade Agreements within the framework of agreements with the GCC countries. The country was ranked 14 out of 181 countries in the World Bank report on trade across borders. The UAE also ranked ahead in terms of technological readiness and innovation.

The report ranked the UAE 6th, 9th, 10th, 21st and 25th in terms of infrastructure, institutions, market efficiency, competence and innovation respectively. The Index of Economic Freedom ranks the UAE as the 46th most economically free country higher than countries like France, Italy, Saudi Arabia, and China.

UAE Ministry of Economy RSS feed

· Al Mansouri: Professional arbitration key to strengthen UAE’s investment environment

· Algeria is a strategic investment destination for UAE entrepreneurs, says UAE Minister of Economy

· UAE and Algeria discuss measures to strengthen bilateral trade relations

· UAE-Algeria Joint Economic Committee meeting discusses opportunities to strengthen bilateral trade and investments

· Draft Federal Arbitration Law Conference on May 24 to bring together arbitration specialists

· » more UAE Ministry of Economy

UAE set to achieve 3.2% growth in GDP in 2010

AMEinfo.com – Weekly News

AMEinfo.com FZ LLC
Dubai
Media City

Al Thuraya Tower 1 20th Floor
United Ar
ab Emirates
Phone: +971(4)3902700

FAX: +971(4)3908015

Sun 5/30/10

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GCC REPORT: MIDDLE EAST ECONOMY

May 30, 2010 at 1:54 pm | Posted in Africa, Economics, Financial, Middle East, Oil & Gas, Research | Leave a comment

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GCC Daily Report (30 May 2010)

TAIB Research (Research@taib.com)

GCC Daily Report

Sun 5/30/10

In order to view our GCC Daily Report, please click on the hyperlink below:

For English Version:

http://www.taib.com/reports/M01025053010/GCC30May10.pdf

For Arabic Version:

http://www.taib.com/reports/M01025053010/GCC30May10AR.pdf

For any further information or clarifications, please contact us at:

Tel: + 973 17549499

Fax: + 973 17531213

Email: research@taib.com

Best Regards,

Research Team

TAIB Securities W.L.L

Post Box 20485, Manama

Kingdom of Bahrain

GCC Daily Report (30 May 2010)

TAIB Research (Research@taib.com)

GCC Daily Report

Sun 5/30/10

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KUWAIT STOCK EXCHANGE BRIEFING: MAY 30 2010

May 30, 2010 at 8:54 am | Posted in Arabs, Economics, Financial, Middle East, Research | Leave a comment

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KSE Daily Market Report

Kuwait Stock Exchange Daily Briefing as of 30.05.2010

KAMCO Research (research@kamconline.com)

KAMCO Research

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

Sun 5/30/10

Dear Investors,

At KAMCO Research, we strive to keep you updated with insightful research reports to support you in making an informed investment decision. Please find below the links of KSE Daily Market Report reviewing the performance of the Kuwait Stock Exchange and its different sectors and listed stocks.

Note: The P/E & P/B Multiples for the KSE listed companies have been adjusted to reflect FY-09 earnings and shareholders’ equity as of 31-Dec-09. Dividend Yield has also been updated to account for FY-09 cash dividends announced so far this year.

Valuation multiples (P/E, P/B and Dividend Yield) for companies that have not yet disclosed their financials for FY-09 are still based on the TTM earnings for the period ending Sep-09 and equity figures as of 30 Sep-09, while Dividend Yield is calculated based on FY-08 cash dividends.

In order to view the full reports please click on the link below:

KSE Daily Briefing (English Version)

KSE Daily Briefing (Arabic Version)

Due to the massive losses incurred during FY-2008 & FY-2009 by several listed companies which were mainly due to the mark-to-market losses from investments as well as the non-recurring losses, we have excluded TTM financial results of the 30 companies that reported the highest losses while calculating the Price-to-Earning Multiple (P/E) for the aggregate market and their respective sectors. The total losses incurred by the 30 companies amounted to KD 1.58 billion.

Kind Regards,

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395

Kamco
nline.com

KSE Daily Market Report

Kuwait Stock Exchange Daily Briefing as of 30.05.2010

KAMCO Research (research@kamconline.com)

KAMCO Research

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

Sun 5/30/10

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SAUDI STOCK EXCHANGE BRIEFING: MAY 29 2010

May 30, 2010 at 8:32 am | Posted in Arabs, Economics, Financial, Middle East, Research | Leave a comment

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Saudi Stock Exchange Daily Report

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

Saudi Stock Exchange Daily Briefing as of 29.05.2010

KAMCO Research (research@kamconline.com)

Sun 5/30/10

Dear Investors,

At KAMCO Research, we strive to keep you updated with insightful research reports to support you in making an informed investment decision. Please find below link of the Saudi Stock Exchange Daily Report.

Saudi Stock Exchange

Please note that the P/E & P/B multiples for the Saudi Stock Exchange have been adjusted to reflect net profit for the FY 2009 and shareholders’ equity as of 31 December 2009. Dividend yield is based on FY09 cash dividends that have been announced so far this year. Valuation multiples for companies that have not yet disclosed their financials for FY-09 are based on net profit for the Trailing Twelve Month (TTM) period ending 30 September 2009 and shareholders’ equity as of 30 September 2009.

Kind Regards,

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

Saudi Stock Exchange Daily Report

KIPCO Asset Management Co (KAMCO)
Tel: +965 1 805 885 Ext.1146, 1153
Fax:+965 2 2492395
Kamconline.com

Saudi Stock Exchange Daily Briefing as of 29.05.2010

Saudi Stock Exchange

KAMCO Research (research@kamconline.com)

Sun 5/30/10

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